Sopheap's Group

As a 37-year-old mother of six kids living in Ek Phnom district, Sopheap grows rice and beans as the main source of income. Her husband is not only a helper with the family's businesses, but also a fisherman in order to supplement the household's income. They have been with these businesses for 25 years. However, the lack of a water supply remains the main challenge for her current businesses. This is the fifth loan for Sopheap with KIVA's partner, VisionFund. The past four loans have made her a better living and she can earn about 62,000 KHR per day.In a confident manner. She formed a group loan with three other members to apply for a new loan with VisionFund. One member is a third loan client while the other two are new clients. As the group leader, she will use her loan portion to buy fertilizer for her farmland and a machine for her small boat for fishing. She hopes to grow healthy rice so that she can earn more income to keep improving her family’s lifestyle.

Additional Information

About VisionFund Cambodia

VisionFund Cambodia is a Christian organization and microfinance institution that provides small loans and other financial services to improve the lives of children, empower poor women and their families, and grow successful businesses. The organization works primarily in rural parts of Cambodia and has distinguished itself by targeting the very poor who require smaller loan sizes, regardless of religious beliefs, gender or ethnic background.

Kiva lenders’ funds will help the organization to expand into the northeastern provinces of the country, which have historically been underserved and difficult to reach with financial services.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.